Description
Learn strategies for incorporating unique assets into new and existing estate plans.
Estate planners in this age may encounter clients with unique assets, such as works of art, exotic or racing animals, liquor and wine collections, and firearms. Strategies for incorporating these assets into new and existing estate plans can require more than simply transferring them to a trust. This presentation will highlight a handful of classes of unique assets, discussing the quirks and features that accompany them. The presentation will also discuss considerations for gifting, including valuations and timing (i.e., during life or at death). Individuals will want to ensure these special and valued assets pass to their intended beneficiaries, which may be a means of protecting their legacies or keeping important family heirlooms where they belong. This presentation will assist estate planning individuals with the identification of the main issues in this area so they are in a position to better assist their clients.
Date: 2024-04-30 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to describe how an individuals unique assets can be incorporated into an estate plan.
* You will be able to discuss potential strategies for gifting unique assets during life and passing them to beneficiaries at death.
* You will be able to identify unique assets that may require special planning and arrangements.
* You will be able to recognize the valuation issues affecting the value of gifts and the gross estate.